Cboe Digital to Expand With Margin Futures for Bitcoin And ETH

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Daily News:

Cboe Digital to Expand With Margin Futures for Bitcoin And ETH

UK Appoints Bim Afolami as Economic Secretary to Oversee Crypto Regulation

Goldman, BNP Paribas Lead Fnality’s $95M Round

Cboe Digital to Expand With Margin Futures for Bitcoin And ETH:

• Cboe Digital, the cryptocurrency division of Cboe Global Markets, plans to launch regulated margin trading for Bitcoin and Ethereum futures on January 11, 2024, aiming to be the first U.S. platform to offer both spot and leveraged crypto trading with integrated clearing.

• The initial margin trading offering will focus on financially settled futures, with the possibility of introducing physically delivered products later, allowing traders to engage with less collateral than the full value of their positions.

• This launch represents a significant expansion for Cboe into the cryptocurrency market, leveraging its expertise in equity, options, and volatility markets, and is supported by key players from both the crypto and traditional finance sectors.

UK Appoints Bim Afolami as Economic Secretary:

• Bim Afolami has been appointed as the Economic Secretary to the Treasury in the UK, a role that oversees policies affecting digital assets and central bank digital currencies.

• Afolami's appointment, part of a UK government restructuring, follows the work of former Economic Secretary Andrew Griffith, who aimed to position the UK as a leading crypto hub. CryptoUK, a trade association, plans to engage with Afolami to discuss the crypto sector's potential and challenges.

• Under Afolami's watch, the UK government continues to actively regulate the crypto space, with the Financial Conduct Authority (FCA) implementing rules for crypto firms, including marketing standards and a cooling-off period for new customers, and issuing alerts against firms violating these regulations.

Goldman, BNP Paribas Lead Fnality’s $95M Round:

• Fnality, a blockchain payments startup, has secured $95 million in a funding round led by Goldman Sachs and BNP Paribas, with participation from other major financial institutions.

• The company specializes in creating tokenized versions of major fiat currencies, such as USD, EUR, GBP, CAD, and JPY, backed by central bank cash, aiming to develop a 24/7 global liquidity management ecosystem for both traditional financial markets and the emerging tokenized asset sector.

• This Series B funding, building on their initial $63 million raised in 2019, is geared towards bridging traditional finance (TradFi) and decentralized finance (DeFi) in wholesale markets, where interest in blockchain-based settlement solutions is growing among financial institutions and central banks.

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